Donald Sterling’s tenure as the Los Angeles Clippers owner is officially over.
The sale of the Clippers to former Microsoft CEO Steve Balmer was made official today, with the franchise selling for $2 billion.
Shelly Sterling, Donald's estranged wife, and Balmer came to an agreement for the team’s sale weeks ago, but Donald Sterling challenged Shelly’s legal authority to sell the team.
The NBA announced today that a California court ruled that Shelly Sterling did, in fact, have legal precedent to sell the franchise, and that the sale was now official. All ownership rights to the Clippers will be officially transferred to Balmer by Friday.
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$2 billion is the by far the highest price any NBA franchise has ever sold for. Here’s some contrast for you: In May, the Milwaukee Bucks sold for $550 million, or roughly a quarter of what the Clippers just went for.